MGB Biopharma Raises £920,000

Posted by | April 10, 2017 | Company news | No Comments

MGB Biopharma, a Scottish company that is developing a drug candidate for the treatment of Clostridium difficile, or C. diff, has raised £920,000 funding.The funding round was led by angel investment syndicate Archangels, and the firm also received co-funding from the Scottish Investment Bank, Barwell PLC and Melrose-based angel investor Tri Capital. This takes total funding raised to date to more than £7 million.

The funding will enable Glasgow-based MGB Biopharma to progress the manufacture of its lead drug to enable it to enter crucial Phase II clinical trials. In addition, the funding will be used by MGB to support business development and the tolerability and microbiology testing of two further molecules which are said to show promise for the treatment of other infections and resistant bacteria.